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d2thdr

Opinions Please

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Hello to all,

I am at crossroads, any input would be appreciated.

I got married earlier this year. My wife bought a small flat at the peak in Jan 2008. Today the price of the same small flat is 10,000 less according to Zoopla. I do not think the flat is big enough to consider starting a family by next year. She has a job close to home, hence it made sense to her to buy the flat then. We met a few months after she bought and now we are married.

I have been a avid follower of housing market for the past 4 years, and I knew the prices were way Over the Top. I stayed put with renting rubbish properties. But now as I am married we live together in the same small flat. As much as it made sense to her to buy when she did, I have a feeling it would be sensible to cut the losses. It makes sense to rent instead to paying for a flat which is nice but not worth 105,000 that she paid for it.

She presently works as a specialist registrar and she is very likely to be offered a consultant position in a different town than the present one. I got a good job too. So financially we are reasonable.

I just do not know if cutting loss makes sense or should we pay off as much as we can and hang on to the property?

Many thanks.

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Hello to all,

I am at crossroads, any input would be appreciated.

I got married earlier this year. My wife bought a small flat at the peak in Jan 2008. Today the price of the same small flat is 10,000 less according to Zoopla. I do not think the flat is big enough to consider starting a family by next year. She has a job close to home, hence it made sense to her to buy the flat then. We met a few months after she bought and now we are married.

I have been a avid follower of housing market for the past 4 years, and I knew the prices were way Over the Top. I stayed put with renting rubbish properties. But now as I am married we live together in the same small flat. As much as it made sense to her to buy when she did, I have a feeling it would be sensible to cut the losses. It makes sense to rent instead to paying for a flat which is nice but not worth 105,000 that she paid for it.

She presently works as a specialist registrar and she is very likely to be offered a consultant position in a different town than the present one. I got a good job too. So financially we are reasonable.

I just do not know if cutting loss makes sense or should we pay off as much as we can and hang on to the property?

Many thanks.

Here is my opinion.

I'm 99% certain we are about to leave the bull trap and take another plunge downwards. I guess it will be in the magnitude of another 20% but it could well be more. Whilst there are still those out there that think the bottom has been reached, sell up NOW.

You are reading the same news as the rest of us, I really do not understand why the bulls are so optimistic, there is terrible news and stats out there, with lots more still to come. Prices of property now is still higher than at the height of the last boom when looking at the ration of earnings to property prices, property is NOT GOING TO GO UP for years, what we had was a spring bounce, nothing more. I do not listen to the VI's, in the last crash they were all saying 'This month is a great time to buy'! We now enter a period of rising unemployment and spending cuts. Just the fear factor is going to stop a recovery. Why would we now have a recovery anyway? From my understanding, non of the bulls are at the coal face. They simply do not deal with the reality of the situation. When I think the market is about to turn, I'll gladly be a bull.

My background is property, mainly commercial, I am telling you, my old friends and contacts are sh(one)tting them selves. The banks are a constant worry to them with falling values meaning possible or likely or actual calling in of loans. This is far from over! That's my opinion.

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sell as fast as you can..the only way this market is going come the Autumn is down and where or when this will stop is anyone's guess...good luck..

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